Herman Cain’s Economics Advisor Was Trained in the Arts of Debits and Credits

Posted on by Caleb Newquist

As we mentioned, former Pizza Godfather and current GOP Presidential candidate Herman Cain’s 9-9-9 tax plan hasn’t impressed a lot of people. Bruce Bartlett called it “a distributional monstrosity” and that it “stands out as exceptionally ill conceived.” When Bloomberg’s Julianna Goldman told Cain that the ‘Berg found that his plan wasn’t revenue neutral, Cain simply said, “that analysis is […] incorrect.” Despite the haters, Cain’s plan seems to have captivated the media psyche, it has helped boost him in the polls and he says that it will be delivered in 30 minutes or less (i.e. “[it] will pass”).

Who is the mastermind behind this plan? Is it a young economics policy wonk? Is it a Ivy League economist known the world-over? Is it one of Cain’s former delivery boys who came up with the plan after sharing a jay with an extra friendly customer? NOPE! It’s Rich Lowrie. Rich Lowrie of Cleveland? No? He went to Case Western Reserve University and got an accounting degree. Still nothing?

Herman Cain says his much-touted 9-9-9 plan is the product of extensive testing and thinking, but the only man he cited as involved with its research — Rich Lowrie of Cleveland — is not a trained economist.

Instead, Lowrie — who’s the only economic adviser Cain has been willing to mention by name — is a wealth manager for a division of Wells Fargo and according to his LinkedIn page holds an accountancy degree from Case Western Reserve University. Lowrie also spent three years on the advisory board of the conservative third-party group Americans For Prosperity.

Now that we’re clear about the credentials behind one of the masterminds behind 9-9-9, don’t you feel better about it?

Herman Cain’s economic adviser is not an economist [Politico]

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Analysis: Corporations May Be People But They Are Definitely Not Humans

The Iowa State Fair is going strong and because Election 2012 is in full throttle, the GOP Presidential candidates have been posing for photo-ops and making statements with varying degrees of stupidity.

One of the most logical things uttered, I dare say, was done so by Mitt Romney. By now you’ve probably heard that ol’ Mitt, in between corndogs, got into a bit of a verbal joust with a few of the fair goers. Here’s the soundbite:

The statement has been examined and debated with most intelligent people coming down on the side of Romney. That is, human beings – whether it’s shareholders, employees or customers – eventually bear the cost of the taxes paid by corporations. So while a whole host of humans, including the majority Supreme Court of the United States, are stuck on this “people” thing, it’s worth noting (mostly for the sake of stupid fun) that corporations are definitely not “humans.” Maybe that’s overstating the obvious but English is complicated language and this exercise is not without its merits.

Humans, at their best, are capable of being compassionate, loving, generous and all that crap. Corporations are not. At worst, humans are disgusting, vile creatures capable of ridiculous behavior and we know this to be true mostly because of reality TV. Corporations are certainly capable of deplorable behavior but this behavior is usually at the behest of a human being’s decision.

Accordingly, let’s examine some thing that demonstrate that don’t make corporations “human.”

• Corporations don’t flash women who aren’t the age of consent.

• Corporations don’t use your bathroom and help themselves to the Goldbond Medicated Powder to an extent that you wonder if someone left the window open during a snowstorm.

• Corporations don’t eat corn dogs (humans shouldn’t either).

• Corporations can’t sign a taxpayer protection pledge.

• Corporations don’t “try out” 18 year-old women, take them over state lines and then take money in order to “protect” them.

Feel free to volunteer other examples of “human” versus “people” below but what’s important to note here is that while both humans and corporations may be people, all humans are people and it’s clear that corporations are not humans.

And if that still doesn’t help you understand the difference, just remember this – no matter the situation, for better or worse, humans are the ones who get screwed. Got it?

Congressman Todd Akin Doesn’t Want ‘A goon squad of 5,000 IRS agents tromping around the country’

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AS PREDICTED! Republican Congressman Todd Akin of Missouri could barely wait 48 hours before falsely asserting that the new 5,000 employees at the IRS will all be agents that will be breaking down the doors of every freedom loving American to fleece them for every last dime.

“Don’t call me Clay” Akin was giving Treasury Secretary Geithner a hard time about President Obama’s budget yesterday when he thought it necessary to start calling people – Americans that pay taxes, no less – names:

The back-and-forth began after Akin questioned Geithner about President Obama’s fiscal 2012 budget, which includes spending increases for the IRS that could reportedly lead to thousands of more staffers at the agency. The Missouri congressman said he thought energy might be better spent simplifying the tax code. “Not to mention the fact that it’d make us all look better if we don’t have a goon squad of 5,000 IRS agents tromping around the country with the economy the way it is,” Akin said.

Right. Because you looking good is what’s most important, right Congressman? Geithner, not really impressed with a two-bit fly-over representative giving people in his house shit, tried explaining to him that most of the new employees would work in “customer service or information technology [rather] than enforcement” but this fell on deaf ears:

[T]hat argument did not assuage Akin very much. “’I’m from the IRS. I’m here to help you,’” the congressman said. “That’s hard to sell in the state of Missouri.”

Akin probably didn’t think to ask the employees of the nine IRS locations in Missouri about this. Maybe some of them would be able to explain how, you know, working for the IRS is how they put food on the table, put clothes on their kids, etc. etc. etc. You know, the rhetoric you like to use, Congressman.

Republican calls IRS agents a ‘goon squad’ [The Hill]